According to a research report "AIOps Platform Market by Offering (Platforms (Domain-centric, Domain-agnostic), Services (Professional, Managed)), Application (Infrastructure Management, ITSM, Security & Event Management), Deployment Mode, Vertical and Region - Global Forecast to 2028" published by MarketsandMarkets, The global market for AIOps Platform is projected to grow from USD 11.7 billion in 2023 to USD 32.4 billion by 2028, at a CAGR of 22.7% during the forecast period. AIOps platforms are being adopted across various verticals to optimize IT operations and drive business success. In finance and banking, AIOps aids in fraud detection and real-time transaction monitoring. Healthcare benefits from improved patient data management and diagnostics. Retail and e-commerce use AIOps for demand forecasting and personalized customer experiences. Telecommunications enhances network performance and customer satisfaction. Manufacturing optimizes production with predictive maintenance. Governments improve citizen services and cybersecurity. Energy and utilities optimize distribution and predict maintenance needs. Transportation and logistics streamline operations for cost-effective efficiency.
Browse 306 market data Tables and 59 Figures spread through 347 Pages and in-depth TOC on "AIOps Platform Market by Offering (Platforms (Domain-centric, Domain-agnostic), Services (Professional, Managed)), Application (Infrastructure Management, ITSM, Security & Event Management), Deployment Mode, Vertical and Region - Global Forecast to 2028"
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Healthcare & Lifesciences to account for higher CAGR during the forecast period
Healthcare and life sciences are adopting AIOps platforms to revolutionize patient care and research. AIOps efficiently manages patient data, enhances diagnostic accuracy, and accelerates drug discovery. Real-time monitoring ensures timely interventions and improves patient safety. Predictive analytics aids in proactive care and resource allocation, reducing hospital readmissions. AIOps automates healthcare IT management, enhancing system reliability. Additionally, it ensures regulatory compliance and strengthens cybersecurity measures, safeguarding patient data. By leveraging AIOps, the healthcare industry gains access to advanced analytics, automation, and real-time insights, driving data-driven decision-making and improved patient care.
Services Segment to account for higher CAGR during the forecast period
The market for AIOps Platform is bifurcated based on offering into platform and services. The CAGR of services is estimated to be highest during the forecast period. AIOps platforms were revolutionizing traditional IT service management practices by introducing intelligent automation, proactive monitoring, and predictive analytics. The shift towards AIOps was streamlining incident management, optimizing resource allocation, and improving overall service delivery. By leveraging AI algorithms to analyze large volumes of data, AIOps enabled faster incident resolution, reduced downtime, and enhanced service reliability. This transformation was empowering IT teams to be more proactive and data-driven, thus significantly improving the efficiency and effectiveness of service management processes.
Asia Pacific to exhibit the highest CAGR during the forecast period
The CAGR of Asia Pacific is estimated to be highest during the forecast period. AIOps Platform is rapidly growing in Asia Pacific, which includes China, India, Japan, ASEAN, South Korea and ANZ (Australia and New Zealand). AIOps adoption was growing rapidly as businesses in the region recognized its potential to enhance IT operations and drive digital transformation. Organizations in various industries were embracing AIOps to optimize their IT infrastructures, improve service reliability, and enhance customer experiences. The increasing complexity of IT environments in the region, driven by digitalization and cloud adoption, was fueling the demand for AIOps platforms. Additionally, the presence of a large tech-savvy workforce and a flourishing startup ecosystem contributed to the rapid adoption of AIOps technologies in the Asia Pacific region.
Major vendors in the global AIOps Platform market are IBM (US), Splunk (US), Broadcom (US), OpenText (Canada), Dynatrace (US), Cisco (US), HCL Technologies (India), Elastic (US), ServiceNow (US), HPE (US), Datadog (US), New Relic (US), SolarWinds (US), BMC Software (US), ScienceLogic (US), BigPanda (US), LogicMonitor (US), Sumo Logic (US), Moogsoft (US), Resolve Systems (US), AIMS Innovation (Norway), Interlink Software (UK), CloudFabrix (US), PagerDuty (US), Aisera (US), ManageEngine (US), Digitate (US), ZIF.ai (US), Autointelli (India), UST (US), Freshworks (US), Everbridge (US), StackState (US), Logz.io (US).
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